The Municipality of Nicosia and PHC Franchised Restaurants Public Ltd are expected to sign an agreement on Friday 30 October for the use of commercial premises on the square of the old GSP. The deal opens the way for an investment that aims to breathe new life into one of the most important spots in the centre of the capital.
Provided the final outstanding issues are resolved, the agreement will mark a significant step towards giving the square steady commercial activity and more options for visitors.
The space, created on the site of the historic stadium, is already attracting growing interest. It offers a different option for walks and leisure in the heart of Nicosia, and several events held there have drawn people of all ages.
Cyprus’s largest Caffè Nero
A central part of the plans is the creation of the largest Caffè Nero in Cyprus, with facilities that go beyond a typical coffee shop and can serve different needs throughout the day.
The design includes comfortable indoor spaces, seating areas with sofas, dedicated corners for business meetings and the capacity to host small events or seminars. Particular emphasis is also placed on the outdoor area, where a large gardenis planned, strengthening the square’s role as a social meeting point.
The idea behind the development is to create a space that does not rely solely on morning coffee, but stays busy in the afternoon and evening, attracting people of all ages and especially families.
A wine bar with a view and a perfumery
PHC’s plans also include a wine bar on a raised section of the square, overlooking the renovated public space and offering a different evening experience. Cooperation with a specialist professional is being considered, so that the new venue has its own identity and adds to the range of entertainment options in the centre.
At the same time, one of the smaller ground-floor units is earmarked for a perfumery, in cooperation with a company active in the sector. The concept includes a modern space for presenting and testing fragrances, possibly incorporating digital applications and automated services.
Fourth unit still undecided
The biggest question concerns the fourth unit, for which three commercial options are being considered. No final decision has been taken. The options on the table are PAUL Bakery, Patisserie, Cafe & Restaurant, Wagamama and Verde Caferesto. The final choice will depend mainly on the building’s capabilities and licensing requirements.
A Citizen Service Centre in 2027
In addition, according to information obtained by Politis, the aim is for a Citizen Service Centre (KEP) to operate again in 2027, following the closure of the one on Makarios Avenue. A KEP has long been requested by people who live or work in the centre of the capital.
Residents call for a pharmacy
Another long-standing request from Nicosia residents living within the walls is a pharmacy, as there is currently none available. Several residents told Politis that the possibility of reopening a pharmacy in the area should be considered, to serve workers, tourists and permanent residents.
